ID: MRFR/CO/1333-HCR | February 2021 | Region: Global | 140 pages
Green Building Materials Market is projected to be worth USD 939.79 Billion by 2030, registering a CAGR of 12% during the forecast period (2022 - 2030), The market was valued at USD 338.8 billion in 2021.
Green building is a concept that promotes consumer awareness regarding eco-friendly materials in construction. Green building materials are eco-friendly products that are toxic-free. Constructing green building enhances the health, atmosphere and environment. Today, most people are becoming environmentally conscious. The industries are introducing new concepts that reduce pollution and carbon emission in the atmosphere.
Also, they are the best building that conserves water and energy. The operating cost of constructing a green building is less by 10% than the regular buildings. They are used in the commercial, residential and industrial sector. The requirement for green building is growing every day. The awareness about the environment is feeling the growth of this market.
The green building materials industry is severely affected by the covid 19. Due to the pandemic mobility is restricted in all most every region. The construction workers are not allowed to build complex buildings. Also, there was a restriction on the construction work. It has caused several disruptions in the demand-supply chain of the market. However, the post-pandemic green building materials market trends remain positive. The green building is functional when the governments allow and reduce the market restrictions. Till that, the demand for the green building market is less and will go through plenty of enhancements post covid 19.
Today, the demand for green building is massive due to the government policies that support energy-efficient buildings. In the residential sector, the investment rate is high on efficient and power-consuming buildings. This initiative by the government acts as a crucial market driver. Individuals are encouraged to purchase a building with water conservation and energy efficiency features. It benefits the buyer as well as the environment. Also, public awareness about eco-friendly building is high these days. Many individuals try to reduce pollution by living an eco-friendly lifestyle.
The green building is the concept that offers clean air, natural energy and fresh sunlight in their residence. Further, there are plenty of health benefits of adopting green building. Also, the rising consumer spending on property offers them to choose eco field green buildings. The green building is attractive with plenty of construction techniques and interior. It is similar to any sophisticated building but it will not damage the environment in any way. All these crucial drivers will actively work to enhance the market demand. The crucial drivers will be responsive for high green building materials market revenue in the forecast period.
The high energy consumption in regular buildings is causing massive carbon emission. The need for a clean and eco-friendly energy consumption method is important in any building. The increasing alertness regarding global warning and other environmental issues incline the customer interest in green building.
The stringent government rules regarding green and energy-efficient building offer market growth opportunities. The transformation of regular building to green building is high in the future. The future of the green building materials market looks promising. These growth opportunities will result in market expansion and profitability in the upcoming years. The green building is energy efficient, moisture resistant, pollution resistant and easy to maintain. All these factors provide plenty of growth prospects to the market.
The massive investments required for the green building materials are a significant restraint in this market. The green building operational cost is less than the construction of the regular building. However, the construction of green building requires the deployment of energy-efficient facilities and technologies that are cost-intensive. The green building purchases can enjoy cost-efficiency. However, the process of converting regular buildings to the green building requires immense investments. There are external factors that can hamper the growth of the green building market. The investment cycle of the green building market is slow that another crucial restraint in the market is.
The awareness of green building is high in today’s generation. Most people know the benefits and their uses. However, the adoption rate of these building is still less. The less adoption rate results in less demand. It can be a significant challenge to the overall market. The incorporation of the green building concept in any infrastructure is necessary for the market. The less adoption rate can have a declining effect on the overall market. Therefore, it is a challenge that can affect market growth in the long run. The market expansion rate will decrease during the forecast period.
The market growth rate of the green building materials market remains uniform throughout the forecast period. The need for the green and energy-efficient building is a massive market driver for the green building. Also, the market has several pitfalls that restrict the market growth. The large capital investments required for converting the regular building into a green building is a challenge.
As per the green building materials market analysis, the adoption rate is essential for market developments. The green building is a sophisticated infrastructure that requires specialised labours. However, it requires the market requires incorporating green building features in a regular building in the upcoming years. It is also essential to make people are aware of the benefits and cost-efficiency of this building. The less rate of adoption can have a declining effect on the market.
North America holds the largest green building market share. The number of construction projects is massive in this region. The demand from the end-users and individuals are the crucial drivers in the regions. The green building in North America is highly secure, durable and safe. The government is supporting this project through stringent policies to include the energy efficiency feature in infrastructures.
Green building materials market outlook is widely developing in this region. There are plenty of growth opportunities for the green building market in the forecast period. The top key players in the market make plenty of investment in green building infrastructure. All these aspects promote more demand profitability for green building in this region.
The regional green building market is fragmented into Asia Pacific, Europe, North America, and the Middle East. North America will dominate the other green building market in the forecast period. However, the Asia Pacific region remains the fastest-growing markets. The highest growth rate for the green building materials market will be witnessed in the Asia Pacific region. India, Japan and China are the key contributors to the green building materials market. The massive infrastructural developments offer an exceptional growth rate in this market. The green building market adoption rate is immense in Europe. Most of the building is already incorporating the green building concept. The supportive governmental initiatives are crucial reasons for the high growth rate.
The competition is severe in the European and Asia Pacific region. The entry of key market players is fuelling the growth. Several green building techniques are being established by the green building market players. These measures by the market players will expand the overall growth of the market.
The key players of the green building market are
|Market Size||2030: USD 939.79 Billion|
|CAGR||12% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application and End-use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Alumasc Group plc., Bauder Ltd., Wienerberger AG, Binderholz GmbH, Homasote Company, CertainTeed Corporation, LG Hausys Ltd., RedBuilt LLC, PPG Industries, Inc., E. I. du Pont de Nemours and Company, Forbo International SA, Kingspan Limited, Lafarge Company, BASF SE, and Owens|
|Key Market Opportunities||
|Key Market Drivers||Low maintenance cost, low operating cost and low water requirements|
Frequently Asked Questions (FAQ) :
Green Building Materials Market is projected to be worth USD 939.79 Billion by 2030, registering a CAGR of 12% during the forecast period (2022 - 2030)
The key players of the market are Owens Corning, Alumasc Group plc, Lafarge Company, Wiesenberger AG, PPG Industries, Homasote Company and CertainTeed Corporation.
The green building market has plenty of applications. They are used in industrial, healthcare, commercial and infrastructural field.
The demand for the green building market is high due to governmental support and backing. Green building market drivers will intensify during the forecast period. The market growth opportunities provide more revenue and demand for the market.